Economy - USNN World News

Economy

Senate Passes ‘No Tax on Tips Act’ in Unanimous Vote

by USNN World NewsMay 21, 2025May 21, 2025

Economy

New Vehicle Inventory in April Declines, Affordability Worsens: Cox Automotive Analysis

by USNN World NewsMay 19, 2025May 19, 2025

Economy

Market Review: Stocks Roar Back in 5-Day Winning Streak

by USNN World NewsMay 18, 2025May 18, 2025

Economy

Moody’s Strips US of Final AAA Rating Over Rising Debt, Interest Costs

by USNN World NewsMay 17, 2025June 4, 2025

Economy

US Pending Home Sales Dip By 3.4 Percent to ‘Lowest Level on Record’: Report

by USNN World NewsMay 15, 2025May 15, 2025

Economy

The Fed Fears Inflation While Ignoring Deflation

by USNN World NewsMay 14, 2025May 14, 2025

Economy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

by USNN World NewsMay 13, 2025May 13, 2025

Economy

US Inflation Slows to Lowest Level Since February 2021

by USNN World NewsMay 13, 2025May 13, 2025

Economy

Markets Rally After US, China Announce 90-day Tariff Reductions

by USNN World NewsMay 12, 2025May 12, 2025

Economy

Market Review: Stocks Retreat on Fed Caution and Trade Uncertainty

by USNN World NewsMay 10, 2025May 10, 2025

Japanese electronics manufacturer Panasonic plans to terminate 10,000 workers globally as part of a reform to resolve “structural issues,” the company said in a May 9 statement. The layoffs target 5,000 Japanese employees and 5,000 overseas workers at Panasonic’s consolidated companies. Job cuts are set to be implemented mainly in fiscal year 2026, “in accordance with the labor laws, rules, and regulations of each country and region.” “The company will thoroughly review operational efficiency at each Group company, mainly in sales and indirect departments, and reevaluate the number of organizations and personnel actually needed,” said the statement. Story continues below advertisement Panasonic will also terminate loss-making businesses that have “no prospect of improving profit.” “Through these measures, the company will optimize our personnel on a global scale,” it said. The layoffs are part of Panasonic’s broader management reform. The company is banking on these measures in fiscal 2026 to “resolve its various structural issues.” Related Stories Homes for Sale in Washington Surge 25 Percent Amid Federal Layoffs 5/8/2025 Homes for Sale in Washington Surge 25 Percent Amid Federal Layoffs Layoffs Drop, Jobless Claims Climb Ahead of April Jobs Report 5/1/2025 Layoffs Drop, Jobless Claims Climb Ahead of April Jobs Report The management reform seeks to improve profit by a minimum of 150 billion yen—roughly $1 billion—in fiscal year 2027 compared to fiscal 2025. For the current fiscal year 2026, Panasonic expects structural reforms to cost the company 130 billion yen, approximately $900 million. In an April 10 statement, Yuki Kusumi, the CEO of Panasonic Group, highlighted the need to change the organizational culture in the company. “There is a deep-rooted tendency toward following the established framework once a decision has been made. If we are going to improve the efficiency and quality of our work, then we must become an organization that is constantly changing, with each individual taking the initiative to make changes,” he said. “I believe we need to advance to the stage where change is considered a virtue. To achieve this, it is extremely important that we avoid being constrained by deeply ingrained behaviors.” The layoff announcement came on May 9 as Panasonic reported its consolidated financial results for fiscal year 2025, which ended on March 31. Story continues below advertisement Sales were at 8,458.2 billion yen, approximately $58 billion, down 0.5 percent from a year ago, which was partly due to the impact of deconsolidation in the company’s automotive segment, said the earnings report. Operating profit jumped 18 percent year-over-year, partly due to higher sales. According to Panasonic, the global economy experienced a gradual slowdown during the fiscal year ending March 31. For fiscal year 2026, net sales are expected to decrease, with operating profit also forecast to fall. Potential impacts of tariffs from the United States were not included in the forecast. “The company continues to monitor the tariff situation and aims to minimize the resulting impact by taking measures from both short-term and medium- to long-term perspectives,” Panasonic said. In January, Panasonic Well, a division of the company, announced a plan to create “the first comprehensive wellness ecosystem” for families. “Families are at their breaking point as chronic stress, disconnection, and fragmented wellness solutions are taking a toll, and the call for help is loud and clear,” the company said. Panasonic’s wellness solution is expected to aid families in dealing with wellness issues and “help modern families thrive.”

Economy

Panasonic Announces 10,000 Layoffs Worldwide

by USNN World NewsMay 9, 2025May 9, 2025

Economy

Cox Automotive Says Tariffs Impacted Wholesale Used Car Prices in April

by USNN World NewsMay 8, 2025May 12, 2025

NATIONAL NEWS

Georgia Polling Manager Tells Lawmakers About Box With ‘Pristine’ Ballots

By Zachary Stieber A polling manager in Fulton County, Georgia, told state lawmakers on Thursday that she opened up a box of ballots to find a ...

Michigan GOP: Secretary of State Trying to Delete Election Data Amid Audit Calls

By Jack Phillips The Michigan GOP on Friday raised concerns about a memo sent by Michigan Secretary of State Jocelyn Benson that “is pushing for the mass deletion of ...

Georgia Governor: Container Video Is ‘Concerning,’ Wants Answers From Secretary of State

By Jack Phillips Georgia Gov. Brian Kemp noted that the video showing suitcase-like containers of ballots being wheeled out from under tables in Fulton County on ...

‘Stay Home,’ Says Texas Mayor at Mexico Beach Resort

By Zachary Stieber A mayor in Texas who in a video urged people to stay home amid the COVID-19 pandemic recorded the footage from a resort in Mexico. Austin Mayor Steve ...

Supreme Court Orders Review of California Restrictions on Churches

By Zachary Stieber The Supreme Court on Thursday ordered a review of restrictions the state of California has imposed on churches amid the COVID-19 pandemic. In an unsigned order, justices said the U.S. ...

Trump Lawyers: 1,500 Dead Voters Cast Ballots, 40,000 Voted Twice in Nevada

By Jack Phillips President Donald Trump’s lawyers presented claims of voter fraud to a Nevada state court in Carson City Thursday, arguing that tens of thousands of ...

Firm That Conducted ‘Audit’ of Georgia Voting Machines Has Long History With Dominion

By Jeff Carlson News Analysis The firm hired by Georgia’s secretary of state to conduct an “audit” of Dominion Voting Systems technology used during the 2020 elections is the ...

Voting Machine USB Drives Had Totals Altered Overnight, Witness in Nevada Election Contest Alleges

By Ivan Pentchoukov A witness brought forward by the Trump campaign in its election contest in Nevada alleged that the memory disks used to store vote totals from election ...

Witness on Verge of Tears Testifying About Intimidation, Harassment at Detroit Vote Processing Center

By Melanie Sun Detroit local Jessy Jacob was on the verge of tears on Dec. 2 as she testified during a Lansing, Michigan, hearing about the ...

Trump: Barr, DOJ ‘Haven’t Looked Very Hard’ Into Election Fraud

By Jack Phillips President Donald Trump told reporters Thursday that Attorney General William Barr hasn’t “looked very hard” to investigate allegations of election fraud, coming several days ...

Georgia Video Footage Allegedly Shows Poll Workers Staying Behind, Producing ‘Suitcases of Ballots’

By Jack Phillips President Donald Trump’s legal team on Dec. 3 presented surveillance footage at a Georgia state legislature hearing that appears to show ballot-counting workers telling ...

Missouri Lawmaker Calls on AG to Prosecute Dominion Voting System Over Taxes

By Jack Phillips Company disputes claim, says it ‘paid its taxes in full’ in the state. A Missouri state lawmaker called on Attorney General Eric Schmitt to prosecute Dominion Voting ...